Trump on grocery prices: "It's hard to bring things down once they're up."
- Thread starter LunchBox50
- Start date
Speaking of sleepy, how old are you Hans? Hard to imagine you're much younger than our current or future president. No more lucid either. 😜😉
Here's his answer when asked yesterday about the last time he read a book. He's clearly one of the greatest minds of our time.
Imagine that…a politician back peddling. Oh the horror. 🥴Trump backtracking already on campaign promises.
This has already occurred, so I guess you can start praising Trump and the Republicans for this too. Winning!
61…so I’m a “spring chicken” compared to them. 😉
How the hell would we understand an ASSHOLE who talks out both sides of his pie face.
So, you are backpedaling as well. Seems appropriate.
No. I already let the cat out of the bag. It's boxes of little chocolate donuts for breakfast every morning. It's the breakfast of champions.
Get ready for a long list of downplaying things that Democrats said was bullshit when he said them and then Trump proves them to be correct. I have to admit I thought he'd at least wait until he was actually President again to do it.
What's awesome is how you would be treating this like it was the greatest constitutional crisis to ever occur if it were Biden doing it. I mean, you all are still talking about him pardoning Hunter.
The inflation mess was caused by excess D spending. There was too much spending on too few good. It was as if the D's were throwing money out of helicopters despite covid ending years ago.
Had the D's pulled back spending to a reasonable level, we would have had far less inflation. Even today, the D's have a $2 trillion deficit.
Other to fund pork projects and give money to donors, why are the D's still spending???
which D spending?
keep in mind that 5 of the 6 covid bills - and about 2/3 of the covid funding - were passed while trump was in office
Trump signed the spending bill that the D House and Senate approved. If Biden and the D's had a brain (which Joe doesn't), that money would have been clawed back. And had Trump not signed the bill, the D's wouldn't haven't reduced the spending.
Instead, the D's spent money that we don't have....which lead to massive inflation.
so the spending that trump signed when biden was not in governemnt at all why all this is "biden's mess"?
The D's passed a large spending bill after Biden came into office -- the American Rescue Act was $1.9 trillion. Biden signed it in February of 2021. They have also pissed away a lot of money in recent years.
And Biden has a lot more messes than that. Look around the world. Look at the illegals, the U.S. energy policy, Ukraine, Israel, Iran, China, etc. It's a shitshow.
Have no fear, Trump will clean up Biden's messes.
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So you believe this inflation is a result of “pet spending” by Biden?
Why was it us for over a year one couldn’t buy household goods and staples…. And when then finally came available, the prices in then had increased considerably? It was a lot more “supply and demand” than pet Biden spending projects. Biden’s “pet projects” provably have is to do with todays inflation than Trump’s tax cuts.
“Spending” did not create this inflation. Interruption of supply chains, world wide interruption of manufacturing capacities are what lead to higher prices. Biden’s “spending” was a factor…as was Trump’s spending coupled with his tax cuts. But this round of inflation was not caused by “spending” at the Federal level. Refer to the economic laws of “supply and demand”…
Where have you been the last 8 years? We know where your head has been and, obviously, still is.
Government spending had a huge impact on inflation. In addition to Biden's American Rescue Act $1.9 trillion bill, he then spent billions more on his infamous Inflation Reduction Act, which increased inflation. The green energy bill led to more inflation. What sort of moron names a bill Inflation Reduction Act, when it increases inflation???
Biden then went on to spend billions more on his infrastructure bill, chips act, Ukraine handouts, healthcare executive orders, student debt relief, and snap increase.
You can refer to the economic laws of supply and demand. Biden's government spending of nearly $4.8 trillion at a time when we didn't need it, caused inflation.
Here are some actual amounts:
- American Rescue Plan ($1.85 trillion) – The American Rescue Plan Act of 2021 was largely a COVID relief bill, which included funding to state and local governments, $1,400 payments to individuals, an extension of expanded unemployment benefits, new money to combat the pandemic, and other spending. It was regarded by many as larger than necessary given the state of the economy.
- FY 2022 Omnibus Bill ($625 billion) – In March of 2022, Congress agreed to fund the discretionary budget for Fiscal Year (FY) 2022 at 6 percent above 2021 levels. Assuming discretionary spending continues to keep pace with inflation going forward, the Congressional Budget Office has estimated spending will be roughly $625 billion higher than in its prior baseline as a result. Importantly, much of this increase is consistent with keeping pace with inflation.
- Bipartisan Infrastructure Law ($370 billion) – The Infrastructure Investment and Jobs Act of 2021 was a bipartisan package of new spending on transportation infrastructure like roads and bridges as well as on other infrastructure like power, water, and broadband. The package also included several offsets including repurposing of unspent COVID relief funds, delaying implementation of a drug rebate rule, and improving information reporting for digital currencies. However, the bill still added $370 billion to deficits after accounting for those offsets.
- Honoring our PACT Act ($280 billion) – The Honoring our PACT Act of 2022 expanded veterans’ health and disability benefits to veterans who have (or are presumed to have) been exposed to toxic substances while on active duty and have been diagnosed with certain health ailments that could be connected to this exposure. The law was estimated to cost $280 billion and includes no offsets. It would also allow up to $390 billion of discretionary funding to be reclassified mandatory, though that effect is not included in our estimates.1
- SNAP (Food Stamps) Increase ($185 billion) – In August 2021, the U.S. Department of Agriculture announced that it would be revising the Thrifty Food Plan, used for the calculation of Supplemental Nutrition Assistance Program (SNAP) benefits, otherwise known as “food stamps.” The revision increases the reference food plan’s cost by 21 percent.
- Health-Related Executive Orders ($175 billion) – The Biden Administration has announced several executive orders relating to health care that have a combined deficit impact of $175 billion over ten years, assuming all rules are finalized. Early in the Biden Administration, they delayed implementation of a Trump Administration rule regarding prescription drug rebates for a year, saving nearly $15 billion in 2021. They later implemented a different rule requiring pharmacy benefit managers to apply negotiated discounts they receive from pharmacies to the price paid by consumers for drugs under Medicare Part D at a cost of $40 billion. Additionally, President Biden's proposed rule fixing the "family glitch" in Affordable Care Act subsidies will add another $30 billion to deficits, assuming it becomes finalized later this year. Most recently, the Administration proposed a rule overhauling the enrollment process for Medicaid, which we estimate would cost $120 billion over ten years.
- CHIPS and Science Act ($80 billion) – The CHIPS and Science Act of 2022 included more than $50 billion for incentivizing the expansion of the semiconductor manufacturing industry in the U.S. It also increased funding for the Advanced Manufacturing Investment Tax Credit by nearly $25 billion and provided nearly $5 billion for research and innovation. In addition, it included new authorizations not counted in our cost estimate because they would require future appropriations.
- Ukraine Supplementals ($55 billion) – Since Russia invaded Ukraine in February 2022, Congress has approved a total of $55 billion in military, foreign, and humanitarian aid to Ukraine through two supplemental appropriations bills. The first bill passed in March provided $13 billion, while the second bill passed in May provided nearly $42 billion.
- Inflation Reduction Act (-$240 billion) – In August 2022, President Biden signed the Inflation Reduction Act of 2022, a reconciliation bill allowed by the FY 2022 budget. The legislation included spending and tax credits for energy and climate as well as new health spending, but it was more than offset through tax increases, improved tax enforcement, and prescription drug savings, resulting in $240 billion of deficit reduction through 2031.
- Student Debt Relief, Repayment Pauses, and Cancellation ($750 billion) – Over the first 18 months of his Presidency, President Biden extended a pandemic era pause on student debt repayments four times at a cost of roughly $85 billion while also implementing a number of targeted student debt changes that we estimate will cost another $165 billion. More recently, he announced a final pause extension, a cancellation of up to $10,000 to $20,000 per student loan borrower, and a new income-driven repayment plan that we estimate will cost a combined $500 billion.2
- Net Interest ($700 billion) – Increased borrowing results in higher debt and increased federal interest payments. We estimate the legislative and executive actions approved by the President will increase interest costs by $700 billion, with the largest share coming from the American Rescue Plan. This does not account for any interest effects associated with student loan changes, which are generally measured on an accrual basis.
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The will come down some with a recession… come down more with a depression..
But what’s a few more unemployed and fewer jobs as long as it results in lower prices and lower taxes, of course.
No more than it eats at you that choir boy Joe has been president the last 4 years.
I know you meant president, but sorry,.. Joe Biden has not been present for the past four years.
Inflation started with the interruption of supply chains and materials post Covid. My example is I needed to replace a privacy fence…I contacted a contractor (several actually), I had to wait 9 months and materials prices could not be guaranteed. A year later I got my fence replaced and materials / costs almost doubled the price… the main problems the contractor had was he couldn’t get labor abd then he couldn’t get product. This is what happened pretty much everywhere in the home construction market between ‘21-22… and housing prices increased probably 30% or more during this same period. Had nothing to do with federal spending. Supply and demand. The same with cars. There was a year where you couldn’t find cars in any numbers on the lot…new or used.
Don’t forget, the inflation that hit the ENTIRE WORLD would have passed us by had Trump been president.
Somehow Sullivan refuses to admit that the bulk of the inflation was caused by worldwide factors. Spending by Trump and Biden played a factor as well.
Wait, wait, wait. You are blaming a bill Trump signed on Democrats??? L.O.L.
Personal attacks. The sign of true intelligence...oh wait... no its not. Not at all.
Somebody start a poll. What will be the second campaign promise that Bonespurs tells us was a lie? He's got the big #1 lie out of the way now. Which one is next?
Biden signed the $1.85 trillion American Rescue Plan on March 11, 2021. L.O.L.
In addition to these:
- FY 2022 Omnibus Bill ($625 billion) – In March of 2022, Congress agreed to fund the discretionary budget for Fiscal Year (FY) 2022 at 6 percent above 2021 levels. Assuming discretionary spending continues to keep pace with inflation going forward, the Congressional Budget Office has estimated spending will be roughly $625 billion higher than in its prior baseline as a result. Importantly, much of this increase is consistent with keeping pace with inflation.
- Bipartisan Infrastructure Law ($370 billion) – The Infrastructure Investment and Jobs Act of 2021 was a bipartisan package of new spending on transportation infrastructure like roads and bridges as well as on other infrastructure like power, water, and broadband. The package also included several offsets including repurposing of unspent COVID relief funds, delaying implementation of a drug rebate rule, and improving information reporting for digital currencies. However, the bill still added $370 billion to deficits after accounting for those offsets.
- Honoring our PACT Act ($280 billion) – The Honoring our PACT Act of 2022 expanded veterans’ health and disability benefits to veterans who have (or are presumed to have) been exposed to toxic substances while on active duty and have been diagnosed with certain health ailments that could be connected to this exposure. The law was estimated to cost $280 billion and includes no offsets. It would also allow up to $390 billion of discretionary funding to be reclassified mandatory, though that effect is not included in our estimates.1
- SNAP (Food Stamps) Increase ($185 billion) – In August 2021, the U.S. Department of Agriculture announced that it would be revising the Thrifty Food Plan, used for the calculation of Supplemental Nutrition Assistance Program (SNAP) benefits, otherwise known as “food stamps.” The revision increases the reference food plan’s cost by 21 percent.
- Health-Related Executive Orders ($175 billion) – The Biden Administration has announced several executive orders relating to health care that have a combined deficit impact of $175 billion over ten years, assuming all rules are finalized. Early in the Biden Administration, they delayed implementation of a Trump Administration rule regarding prescription drug rebates for a year, saving nearly $15 billion in 2021. They later implemented a different rule requiring pharmacy benefit managers to apply negotiated discounts they receive from pharmacies to the price paid by consumers for drugs under Medicare Part D at a cost of $40 billion. Additionally, President Biden's proposed rule fixing the "family glitch" in Affordable Care Act subsidies will add another $30 billion to deficits, assuming it becomes finalized later this year. Most recently, the Administration proposed a rule overhauling the enrollment process for Medicaid, which we estimate would cost $120 billion over ten years.
- CHIPS and Science Act ($80 billion) – The CHIPS and Science Act of 2022 included more than $50 billion for incentivizing the expansion of the semiconductor manufacturing industry in the U.S. It also increased funding for the Advanced Manufacturing Investment Tax Credit by nearly $25 billion and provided nearly $5 billion for research and innovation. In addition, it included new authorizations not counted in our cost estimate because they would require future appropriations.
- Ukraine Supplementals ($55 billion) – Since Russia invaded Ukraine in February 2022, Congress has approved a total of $55 billion in military, foreign, and humanitarian aid to Ukraine through two supplemental appropriations bills. The first bill passed in March provided $13 billion, while the second bill passed in May provided nearly $42 billion.
- Inflation Reduction Act (-$240 billion) – In August 2022, President Biden signed the Inflation Reduction Act of 2022, a reconciliation bill allowed by the FY 2022 budget. The legislation included spending and tax credits for energy and climate as well as new health spending, but it was more than offset through tax increases, improved tax enforcement, and prescription drug savings, resulting in $240 billion of deficit reduction through 2031.
- Student Debt Relief, Repayment Pauses, and Cancellation ($750 billion) – Over the first 18 months of his Presidency, President Biden extended a pandemic era pause on student debt repayments four times at a cost of roughly $85 billion while also implementing a number of targeted student debt changes that we estimate will cost another $165 billion. More recently, he announced a final pause extension, a cancellation of up to $10,000 to $20,000 per student loan borrower, and a new income-driven repayment plan that we estimate will cost a combined $500 billion.2
- Net Interest ($700 billion) – Increased borrowing results in higher debt and increased federal interest payments. We estimate the legislative and executive actions approved by the President will increase interest costs by $700 billion, with the largest share coming from the American Rescue Plan. This does not account for any interest effects associated with student loan changes, which are generally measured on an accrual basis.
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